Robert Abela hailed the 'people's budget' on Monday saying it addressed the cost of living while strengthening middle-class families’ income.

This, he told a press conference, was a budget which yet again, introduced no new taxes, while retaining energy subsidies for businesses and families.

Speaking immediately after the finance minister delivered his Budget speech, Abela said the budget was inspired by people who spoke to him about how inflation was impacting them.  

“This budget is truly a reflection of the aspirations and wishes of people who spoke to us over the past weeks,” he said. That was also why the number of families benefitting from the additional cost of living adjustment introduced last year would double – from 50,000 to 95,000 – next year.

The budget, he said, improved pensions, student stipends, the minimum wage and children's allowance while retaining a range of financial schemes and incentives.

“The success of Labour’s 10 years in government was that it incentivised people to go out and work,” he said.  “The challenge for the next decade is to upskill our workers' talents for the new economy we’re building.” He did not say how that would be done. 

He also described how the government had changed Gozo property schemes, by increasing the grant for first-time buyers who buy a house in an urban conservation area from €30,000 to €40,000.